The £10 billion Lothian Pension Fund (LPF), the second largest Local Government Pension Scheme (LGPS) provider in Scotland, has announced a change to its senior leadership team.

LPF said Barry MacLennan has been appointed as its Chief Operating Officer with effect from October 20, 2025.

“Barry is an experienced finance leader with a varied career across the life, pensions and investment sectors of the financial services industry,” said LPF.

“His most recent role was CEO of Embark Investments, a wealth technology business that was bought by Lloyds Banking Group.

“Barry’s previous roles include time lecturing at Napier University and leadership roles at Martin Currie and Standard Life.”

Lothian Pension Fund administers the Local Government Pension Scheme in Edinburgh
and the Lothians. It is a multi-employer scheme with more than 95,400 members and 58 employers.

LPF is unique in Scotland within the LGPS in holding FCA-regulated status, which allows it to provide advisory services and to manage assets for third parties.

Lothian Pension Fund CEO David Vallery said: “Barry brings a wealth of experience from across the financial services sector, and his proven track record in developing high-performing teams will be invaluable as we continue to strengthen our organisation.

“Barry’s commitment to supporting colleagues and enhancing our member focus aligns perfectly
with our values.

“His insight and leadership will be a tremendous asset as we work to deliver outstanding pension and investment services to our members, employers, and partner funds, and as we continue to grow and innovate for the future.”

MacLennan said: “After working in financial services for over 30 years, it is very encouraging to find an organisation so focused and committed to doing the right thing for its customers. I am excited to have the opportunity to sustain and further develop that commitment.”